Dow Jones returns to gain 3/4/2023

The Dow Jones Industrial Average jumped on the New York Stock Exchange, achieving strong gains to end last Friday’s trading with a record high of 33,355.

Technically, and with a closer look at the 60-minute chart, we find the simple moving average providing a positive motive in favor of an ascension, accompanied by the index obtaining positive momentum signals from the 14-day momentum indicator.

From here, with daily trading steadfastly above the support level of 33,210, the bullish bias is the most favourable during the day, targeting 33,470 as the first target, and breaching the mentioned level is a catalyst that increases and accelerates the strength of the bullish trend, so that we are waiting to touch 33,570 next target, as long as trading is stable above 33,210.

Note: The level of risk may be high

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 32880	R1: 33570
S2: 32430	R2: 33810
S3: 32190	R3: 34260